Cryptocurrency analyst Ali Charts has shared a positive signal for the price trend of XRP based on the MVRV ratio. According to Ali, the last time the MVRV ratio showed a golden cross, XRP skyrocketed by 630%. This indicator has shone again, indicating that XRP could be on the verge of another significant bullish move.
This analysis coincides with the current momentum of XRP, which has seen the token rise by 35% over the past week. Additionally, the price of XRP was trading at $3.47, a rebound of 13.50% from the intraday low.
Furthermore, the appearance of the golden cross indicates a continuing bullish trend. Likewise, speculation about the launch of the first XRP ETF listed in the U.S. is also generating excitement in the market. There is an expectation that ProShares will launch an XRP ETF tomorrow, which could drive the price of XRP to a new all-time high.